"cp --no-preserve=mode" doesn't work as-expected

[CJ Kucera]

Hello...  I've run into a problem best described by a post to this list
from 2003:

> When the destination file does not exist cp uses the permissions of the
> source file for creating the destination, as specified by POSIX.  Wouldn't
> it be useful if --no-preserve=mode would cause cp to use the default
> permissions (ie. 0666 - umask) instead?

It was said at the time[1] that it'd be taken care of soon, but either
it never was, or the older behavior's crept back into the tree as of
6.11.  It'd be great to have this behavior changed.  It would be quite
useful to be able to copy files from readonly media (cd/dvd/etc) and not
have to chmod afterwards.

Thanks!

-CJ

[1] http://lists.gnu.org/archive/html/bug-coreutils/2003-02/msg00051.html